Maiyue Tech has signed strategic cooperation agreements with NetEase Youdao and Ferry International

According to the Zhitong Finance APP, Maiyue Tech (02501) announced that on September 19, 2025, the company entered into a strategic cooperation framework agreement with Youdao Information Technology (Beijing) Co., Ltd. (Youdao), a company listed on the New York Stock Exchange (stock code: DAO). The framework agreement establishes a strategic partnership between the two parties to collaboratively develop and apply artificial intelligence (AI) translation technology, aiming to enhance language solutions in the China-ASEAN region. The preliminary scope of cooperation includes: (i) Technology integration: The company plans to open access to its language parsing model, while Youdao intends to open access to its "ZiYue Translation Model" and related AI translation technologies. Both parties will collaborate to optimize multilingual (including minority languages) expression parsing, adapt to cultural contexts, translation accuracy, and scene adaptability. (ii) Hardware procurement and optimization: Youdao plans to purchase 10,000 portable translation devices from the company. The integrated technology will be embedded in these devices to enhance real-time/offline translation and contextual interaction functions for minority languages. (iii) Applications: Utilizing the integrated technology and optimized devices, both parties intend to jointly develop customized service modules for various fields, including cross-border e-commerce, international exhibitions, business, cultural tourism, and education. The board believes that the framework agreement aligns with the company's strategic goal of expanding its AI-driven language solutions in the China-ASEAN market. By collaborating with AI translation technology leader Youdao, the company expects to enhance its technical capabilities, expand market coverage, and achieve revenue growth opportunities through hardware sales and joint applications. This cooperation supports the company's long-term vision of promoting regional connectivity and innovation. Additionally, on September 20, 2025, the company entered into a non-binding strategic cooperation agreement with Ferry International to establish a strategic partnership to promote AI device applications in Cambodia. According to the cooperation agreement, the company intends to supply Ferry International, which plans to purchase 2,000 sets of the group's AI language products, including but not limited to AI translation glasses and AI translation cards. The company may also consider granting Ferry International the right to distribute the group's AI language products in Cambodia upon request. The announcement states that the group is committed to exploring strategic opportunities for corporate development to maximize shareholder value. The signing of the cooperation agreement is an initiative for the group to expand into other countries or regions, aligning with the group's strategy to expand its global market. Furthermore, the strategic cooperation with Ferry International is expected to further enhance the group's overall competitiveness and consolidate its leading position in the industry. In light of the above, the board believes that entering into the cooperation agreement is in the overall interest of the company and its shareholders